Latvian startup says it has solved digital inheritance riddle

Latvian startup Digipulse said July 2 it has launched the world's first "digital asset vault" that ensures safe, encrypted and decentralised storage and transfer of crypto wallets and other digital assets, including Bitcoin.

Digipulse describes itself as a "digital safe, a password keeper or even as a new age testament platform to ensure who inherits your digital valuables, with no third party involvement."  The startup raised the initial investment of 1 million with a successful Token Sale in the autumn of 2017.

Cryptocurrencies are rapidly gaining global momentum, but are still high-risk assets. Moreover, if a crypto owner dies or loses access to their digital wallet, all of their crypto assets will remain forever inaccessible.

The same is true not just for cryptocurrencies but other digital assets as well- legal documents, photos, digital identities and other media can become inaccessible to family and friends, or even to the owners themselves, due to hardware damage, software malfunction or human error.

Digipulse claims to be a solution to this issue, in that it is a "smart vault" can be used to store any type of files – documents, images, passwords and even cryptocurrency wallet keys - that will automatically be transferred to the recipients of a user's choice, using online activity as a trigger.

Launching the service, Digipulse CEO Normunds Kvilis said: “In an increasingly digitized world, the global inheritance framework has been struggling to provide a modern solution to the growing issues of digital asset inheritance... Digipulse aims to disrupt the stagnant industry with a management tool that enables all digital and crypto asset holders to have ultimate control over who will receive their digital assets. No third parties or middlemen involved.”

Digipulse’s Head of Business Development Jānis Zaltāns adds:  “We see an increasing trend amongst tech giants like Microsoft, Google, Facebook and Twitter towards developing tools for managing their inactive accounts. However, each service can only operate within their own platforms. Digipulse’s B2B ‘Pulse Network’ aims to provide a unified service for enterprises and user bases of all sizes.”

Digipulse was created as a solution to a real problem after the company's Co-founder and CTO Dmitry Dementyev-Dedelis experienced health issues and realized that, if he were to pass away, his family would be unable to access his digital assets. Dmitry started Digipulse together with his childhood friend, investment analyst and now CEO Normunds Kvilis in 2017.

 

 

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